Grand Theft Oil Futures: Insider traders keep making a killing at our expense
5 hours ago
- #corruption
- #insider trading
- #oil futures
- Insider trading in oil futures repeatedly occurs just before major announcements related to the Iran War, leading to large profits for certain traders.
- This pattern of insider trading undermines the oil futures market's purpose of risk reduction through hedging, as it discourages legitimate participants due to fears of being exploited.
- The broader impact includes promoting a 'predation economy' where success relies on connections and corruption, harming economic growth and societal morality.